Commercial Office Space for Rent- square footage?
Do you look on the world wide web to find your solutions? That was a rhetorical question, because we all know the answer is yes. The day and age we all live in it is inevitable that you will use google many times throughout the week. Looking for commercial office space for rent for your business will most likely be no different. The Office Advisors can easily be found online by searching Google or going directly to our friendly and easy to use website. From www.TheOfficeAdvisors.com you can fill out the contact form for any of your commercial real estate needs.
How Do I know how large of an office we will need?
Asking the questions “How large of a space will I need?” Is a very good question. It also does not have any easy or direct answer. A common practice when searching for commercial office space to rent in the Atlanta market, is to use an architect. The architect will perform an exercise called a site plan. This site plan will help the tenant determine how much potential space they should start searching for with their broker.
Commercial Office Space
What questions are part of a site plan?
Not being an architectural firm we cannot answer exactly. Each architect will have a different process and number of questions, but they are intended to get the same outcome. From our experience in the commercial leasing arena we know what they want to accomplish. The architect and your broker will be wanting to know how many employees you currently have. They will also be asking about the number of desks you plan to have set up. They might ask you what type of office concept would you be wanting in this location. Some businesses need reception areas or not at all. Is a conference room needed? These and other questions about future growth are important as well?
Why is future growth important?
Future growth plans are an integral part in your search for commercial office space for rent. This is because if you are planning to grow, you as a business want to be set up for success. You need to think not about where you are today but where you will be in a few years. I am sure you are asking what we mean by this. You never know the great possibilities of your business expanding too rapidly and your office lease has to be prepared for this.
Future growth thought Exercise
Think about moving into an office and having the exact max amount of desks or cubicles that you can fit. Now imagine that you are the busiest and most profitable the company has ever been. The company is so busy that new hires need to be made in order to keep up with the growing workload. You want to be able to give your clients the best service possible so you need more hands on deck to answer questions and service current clients. Where are you going to put the employees? The office was maxed out to capacity. Many people’s first thought might be to lease the office next door, but what if that is already taken. What if the entire office building is full?
The nature of your business could be that all employees work as a team and need to be working in tandem face to face. You as a business owner or CEO have a thought! We should just move our entire office. That could be even more costly to business. This is not only because of moving expenses and down time, but also breaking a lease. There could be many years left on the agreement and the business is responsible for the loss of income to the landlord. This is why it is important when searching for commercial office space to rent out that you know what your current and future needs might be.
How to prepare for expansion
Planning for expansion when searching for your next commercial office for rent is vital. Having an understanding of where you want or could be in the future can help determine where to lease today. We will take the time with each client to explore their potential growth. Knowing that new hires will be made in the future helps look for the right office location. When negotiating a lease some items to think about are about the adjacent space or other vacant space in the building.
Vacant Adjacent Space
In an office building there might be 10,000 square feet of available space on a floor. Currently the business might only need half of that space. They might want to negotiate the right of first refusal when the landlord is potentially leasing this space. This can help ensure the availability of easy access to needed space for a growing company.
Other Space in the building
The same thought process can apply to vacant space on other floors of a building. A building may have other space throughout all of its floors. Many companies may occupy multiple floors in one building. Many factors can come into play as to why this is. Identifying your next commercial office space for rent has many things to think through, especially when thinking about the future of the company.
Breaking your lease
Leases have many different components to them. One of these components that you need to think about is the event of breaking your lease. You as a business might be responsible for the remainder of the lease amount. This amount of money could bankrupt many small businesses. The landlord is expecting an income off your rent and has cost associated with your occupied space. When a lease is broken the landlord is going to want payment of loss rent. In many cases that can be hundreds of thousands of dollars or even millions. That is why it is imperative you understand what all goes into a lease when searching for commercial offices to rent.
Do not worry
We understand these can be scary things to think about. Fear not because we are here to ease your headache. The Office Advisors will take you through our step by step approach so that your fears are lessened. We talk about these items upfront so there are no surprises when it comes to signing a lease. As we are not attorneys we do advise you engage one because you are signing a legal document. We try and make the most painful process and turn it into a fun and smooth event. Just remember when looking for commercial office space to rent start with The Office Advisors.